Mini Storage Auction - Tactics That You Should Know To Avoid Losing Money
Many people have considered mini storage auctions as a way to earn money. The idea behind it is to purchase the whole contents of a Mini storage unit, and then resell the merchandise in order to make a profit. There needs to be a strategy anytime you're heading for any type of auction, and a mini storage auction is no different.
Your first strategy is to make sure that the mini storage auction is going to be close enough for you to make a profit. With fuel costs today, you need to be aware that it's going to cost you money to transport the mini storage contents to your home. This is something that needs to be taken into consideration before you even head for the auction, and transportation can use all of your profits up very quickly if you have to pay a large fuel bill.
The next tactic is to reach on schedule and take the opportunity of any views you could have of what is inside the actual unit. If you arrive just 10 minutes before the actual auction, you're not going to have time to sign up, or even find a good place to stand. It's important to start out your mini storage auction strategy with enough time to peruse the lot, the auction area, and get signed up as well as ask questions.
By reaching with ample of time, you have an advantage of asking a few questions. If you don't arrive in time, when you get there, everyone is going to be busy and they're not going to have time for any of your auction questions. Remember, a fast phone call could also allow someone answering your questions, as well as check that the auction is still progressing on. You will need to be aware precisely what the accepted methods of payment, how soon you have to move everything out of the unit and how the actual auctions works.
There could be a chance for blind bidding when you are at a mini storage auction. It's critical that you set your threshold bid, aware of the amount it's going to cost to transport the content, and understanding the risk you take. In other words, you may bid too high blindly on a mini storage auction and find out that there is nothing but garbage in the mini storage unit and now you're responsible to dispose of it.
You will require a little basic knowledge in order to make profit from your mini storage auction. In other words, you'll need to know what the market is in your area for items such as household appliances, furniture, and even antiques. The main point is to search for those mini storage auctions which contain items that have namebrand products, or have boxes with transparent labels.